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sergeinik [125]
3 years ago
8

If Baldwin issued 1000 shares of common stock at last year's end price, the effect on the balance sheet would be: Select: 1 Reta

ined earnings would increase by $40,076 Equity would decrease by $4,008 Equity would increase by $40,076 Retained earnings would increase by $4,008
Business
1 answer:
nataly862011 [7]3 years ago
6 0

Answer:

Equity would increase by $40,076

Explanation:

A funds could be raise from different sources by a company which include:

  •  Shares Issuance
  • Debt financing.
  • Internal sources of finances (retained earnings)

If a company issues common shares It will effect the Common stock value and Add-in-capital excess of par common shares account value will be changed. Retained earning will not be changes in case of issuance of common share but it can be in case of stock dividend.

So, from the given option most appropriate is increase in the equity value.

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Compute the Cost of Goods Manufactured and Cost of Goods Sold for Strike Marine Company for the most recent year using the amoun
Alecsey [184]

Answer:

Instructions are below.

Explanation:

<u>First, we need to calculate the direct material used and the manufacturing overhead:</u>

Direct material used= beginning inventory + purchases - ending inventory

Direct material used= 22,000 + 74,000 - 34,000

Direct material used= $62,000

Manufacturing overhead:

Insurance on plant $9,500

Depreciation-plant building and equipment 12,600

Repairs and maintenance-plant 3,900

Indirect labor 42,000

Total overhead= $68,000

<u>Now, we can determine the cost of goods manufactured:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 41,000 + 62,000 + 88,000 + 68,000 - 27,000

cost of goods manufactured= 232,000

<u>Finally, the cost of goods sold:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 13,000 + 232,000 - 21,000

COGS= $224,000

3 0
3 years ago
Closing entries are not needed if adjusting entries are prepared need not be journalized if adjusting entries are prepared must
anastassius [24]

Answer: Closing entries: <u>" must be journalized and posted ".</u>

Explanation: Closing entries are those registrations that are ALWAYS made at the end of an accounting period because it cancels the balance of all temporary accounts to transfer them to permanent accounts.

Temporary accounts are profit and loss accounts, so the result of the year is determined in this way.

7 0
3 years ago
Fixed overhead​ costs: A. never have any unused capacity B. should be unitized for planning purposes C. are unaffected by the de
d1i1m1o1n [39]

Answer:

C. are unaffected by the degree of operating efficiency in a given budget period.

Explanation:

Fixed over head costs or indirect costs are cost that do not vary with the level of out put. They are essential cost required to manage a business.

These costs are the same months by Months and are needed for the smooth running of the business. They are also unaffected by the degree of operating efficiency in a given budget period.

Examples of fixed overhead are rents, salaries, depreciation , insurance and taxes. It should however be noted that if there is an increase in sales compared to the budgeted sales of the company, there could be an increase in fixed overhead cost due to additional employees and administrative staff.

4 0
3 years ago
Which of the following helps to maintain the current level of nitrogen in Earth's atmosphere?
zepelin [54]
The answer for this question is a. lightning.

Lightning is an important phenomenon that plays a significant role in nitrogen fixation step in the nitrogen cycle. Lightning helps to "fix" the inert nitrogen present in the atmosphere by breaking nitrogen molecules and combining them with oxygen to form nitrogen oxides. The resulting compounds are then readily absorbed by rain then the soil.
4 0
3 years ago
Pharoah Company reported net income of $184,850 for 2017. Pharoah Company also reported depreciation expense of $33,700 and a lo
Dominik [7]

Answer:

$219,700

Explanation:

Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.  

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $184,850

Adjustment made:

Add : Depreciation expense $33,700

Add: Loss on the  disposal of plant assets $4,690

Less: Increase in accounts receivable -$15,150

Add: Increase in accounts payable $15,640

Less: Increase in prepaid expenses -$4,030

Total of Adjustments $34,850

Net Cash flow from Operating activities                $219,700

4 0
3 years ago
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